Sterling improves further as Brexit deal......>

FOREX: Sterling improves further as Brexit deal edges closer

-GBP, alongside the JPY, modestly improved Friday morning as further reports

suggested a Brexit withdrawal deal could be nearing fruition. Reuters cited

sources in reporting that EU negotiators believe a divorce deal with Britain is

'very close'. GBP/USD improved up towards $1.3060 before retracing slightly, but

remains stronger against most others.

-JPY continues to rebound as global equity markets soften further. Core European

equity indices trade lower by 0.5-0.8%, helping press USD/JPY firmly back below

the Y114 mark.

-NOK is the poorest performer among G10 FX as WTI crude futures sit just above

yesterday's lows. EUR/NOK rallied above the 9.50 mark in early Europe.

-Focus turns to the Nonfarm Payrolls report at 1330BST, with markets cognizant

of the risks of an upside surprise to today's numbers. The median estimate sits

at 185K, while the whisper numbers sits north of 200K. Much attention, as ever,

will be on average hourly earnings, forecast to slow to 0.3% from 0.4%, although

the market eyes downside risks after such a high August print.